Senate Committee Advances Bill with Loan Guarantees for Ukraine
Published at
metrokom/Thinkstock(WASHINGTON) — The Senate Foreign Relations Committee on Wednesday advanced a bill which would provide loan guarantees for Ukraine.
The committee voted 14 to 3 on a bill which would authorize $1 billion in loan guarantees for Ukraine’s new government. The bill would also provide additional sanctions against Russians and Ukrainians who were responsible for violence in Ukraine as well as those who undermined the sovereignty of Ukraine.
“Ukraine is confronting a menacing threat challenging its very existence and in their hour of need, we firmly stand with the Ukrainian people to choose their own destiny without Russian interference,” Sen. Bob Menendez, chairman of the committee, said in a statement when introducing the bill. “[Russian] President [Vladimir] Putin has miscalculated by playing a game of Russian roulette with the international community, but we refuse to blink, and will never accept this violation of international law.”
The measure contains asset freezes and visa revocations for Russian officials and their associates who are responsible for corruption in Ukraine. The bill also includes reforms to the International Monetary Fund, which was controversial among Republicans.
The bill, which is broader than what the House passed last week, will now be considered on the Senate floor, but a vote has yet to be scheduled. It’s unclear if senators will vote on the measure before next week’s recess.
Copyright 2014 ABC News Radio